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REPORT Fines Act

Introduced: June 30, 2021 Introduced by: Harshbarger, Diana Republican · Tennessee See on congress.gov
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 Everywhere this bill has been 2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Jun 30, 2021
Referred to the House Committee on Education and Labor.
Jun 30, 2021
Introduced in House
 Plain-English summary Congressional Research Service

Requiring Education Providers to Observe Requirements or Trigger Fines Act or the REPORT Fines Act

This bill modifies the disclosure threshold regarding gifts or contracts from a foreign source that institutions of higher education (IHEs) must report to the Department of Education (ED). The bill also establishes new penalties for failure to report.

Under current law, an IHE is required to disclose to ED a gift or contract that is from a foreign source and is valued at $250,000 or more, considered alone or in combination with all other gifts from or contracts with that foreign source within a calendar year. The bill instead requires the IHE to disclose such a gift or contract that is valued at $50,000 or more within a calendar year.

In addition, the bill establishes new penalties for IHEs that fail to report to ED. These penalties include written warnings, civil penalties, and ineligibility for federal research funds. Further, the bill establishes accelerated penalties for IHEs that receive funding from certain countries (e.g., China or Russia).

What's happening now June 30, 2021

Referred to the House Committee on Education and Labor.

 Committees of jurisdiction 1